Beazley (LON:BEZ) Stock Crosses Above 200-Day Moving Average – Here’s Why

Beazley plc (LON:BEZ) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 871.58 and traded as high as GBX 1,147. Beazley shares last traded at GBX 1,132, with a volume of 2,634,409 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BEZ. JPMorgan Chase & Co. dropped their price objective on shares of Beazley from GBX 1,050 to GBX 1,025 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Royal Bank Of Canada increased their target price on Beazley from GBX 1,000 to GBX 1,100 and gave the company an “outperform” rating in a report on Tuesday, October 14th. Berenberg Bank cut their price target on Beazley from GBX 1,150 to GBX 1,100 and set a “buy” rating for the company in a report on Wednesday, November 26th. Jefferies Financial Group increased their price objective on Beazley from GBX 1,000 to GBX 1,040 and gave the company a “buy” rating in a research note on Wednesday, November 12th. Finally, Peel Hunt reiterated an “add” rating and set a GBX 900 price objective on shares of Beazley in a research report on Tuesday, November 25th. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of GBX 1,074.17.

Beazley Price Performance

The firm has a market cap of £6.70 billion, a PE ratio of 7.53, a P/E/G ratio of 1.57 and a beta of 0.68. The stock has a 50-day moving average price of GBX 879.61 and a 200 day moving average price of GBX 873.23.

About Beazley

Beazley plc provides risk insurance and reinsurance solutions in the United States, the United Kingdom, rest of Europe, and internationally. It operates through Cyber Risks, Digital, MAP Risks, Property Risks, and Specialty Risks segments. The Cyber Risk segment underwrites cyber and technology risks. The Digital segment underwrites various marine, contingency, and SME liability risks through digital channels, such as e-trading platforms and broker portals. The MAP Risks segment underwrites marine, portfolio underwriting and political, and contingency business.